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QUESTION 1 Francine would like to have $30,000 in 5.5 years time to use as a down payment on a new home. What amount must
QUESTION 1 Francine would like to have $30,000 in 5.5 years time to use as a down payment on a new home. What amount must she invest today at 3.1595 compounded monthly to make this happen? Round your answer to 2 decimal places and do not enter it as a negative value. QUESTION 2 A payment of $2,000 due 4 months ago which was not paid and another payment of $3,000 due 3 years from today are to be replaced by a single payment 1 year from today. What is the size of the single payment if money is worth 2.71 % compounded quarterly? Round your answer to 2 decimal places and do not enter it as a negative value
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